Treasury Laws Amendment (Australian Consumer Law Review) Bill 2018

Summary

Implements certain recommendations of the Australian Consumer Law Review Final Report by amending the: Competition and Consumer Act 2010 to: amend evidentiary requirements to allow private litigants to rely on admitted facts from earlier proceedings; clarify the operation of unsolicited services provisions and unsolicited consumer agreements in a public place; ensure that fees or charges associated with pre-selected options must be included in the single price; strengthen the Australian Competition and Consumer Commission’s (ACCC) powers to obtain information about product safety; enable third parties to give effect to a community service order; and clarify the scope of the exemption from the consumer guarantees for the transport or storage of goods; Australian Securities and Investments Commission Act 2001 and Competition and Consumer Act 2010 to: extend the unconscionable conduct protections to publicly listed companies; and enable the ACCC and the Australian Securities and Investments Commission (ASIC) to investigate possible unfair contract terms; and Australian Securities and Investments Commission Act 2001 to: correct inconsistent terminology for financial products that involve interests in land; and clarify the application of consumer protections to financial products.

Proposed amendments

House of representatives

Schedules of amendments

Bills digest

Notes

Considered by scrutiny committee (09/05/2018): Senate Standing Committee for the Scrutiny of Bills; Scrutiny Digest 6 of 2018

An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)

Helpful information

Text of bill

First reading: Text of the bill as introduced into the Parliament

Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.

As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.

Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.

Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changes to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.